The trend in condo sales in Dupont Circle this year has been that the average absolute price has come steadily down -- from $455K to $396K, although the price per square foot came back up in the third quarter -- from from $496 in the second quarter to $527 in the third quarter.
The difference between list price and close price has come closer and closer together, from 96% in the first quarter to 99% in the third quarter. This indicates that sellers have become quite realistic in their expectations.
Average days on the market have come down dramatically from 53 days on the first quarter to 35 days in the third quarter. Again, this indicates a balance in the market between buyers and sellers.
The number of homes sold has steadily increased since the beginning of the year: 23 homes in the first quarter, 46 homes in the second quarter and 50 homes in the third quarter.
For a chart illustrating the trends in Dupont Circle this year, contact Kim at City Influence - 202-309-5209.
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